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The main risk factors are a failing U.S. economy. Very illiquid. I don't own any. Depending on this quarter earnings may be worth putting in a stink bid.
Hello, I'm new to this board and was wondering if anyone could tell me about any risk factors related to this stock. :)
Industrialex Manufacturing Corp. Announces Issuer Bid; Receives Approval To Buy Back Up To 739,815 Common Shares
15:20 EST Friday, December 12, 2008
ARVADA, COLORADO--(Marketwire - Dec. 12, 2008) - Industrialex Manufacturing Corp. (TSX VENTURE:IXC.U) -
The Company wishes to announce that it has obtained the approval of the TSX Venture Exchange to undertake a normal course issuer bid to purchase up to 739,815 of its 18,497,592 issued and outstanding common shares representing approximately 4% of the Company's issued and outstanding common shares. Purchases will be made on the open market through the facilities of the Exchange. All purchases will be made, on behalf of the Company, by Canaccord Capital Corporation. The price paid will be the prevailing market price of such common shares at the time of purchase. Any shares purchased pursuant to the bid will be cancelled and returned to treasury.
The bid will commence on December 17, 2008 and will terminate on December 16, 2009 or at such earlier time as at which the bid is completed. The Company reserves the right to terminate the bid earlier if it feels that it is appropriate to do so.
The Company believes that the current market price of its securities does not give full effect to their underlying value and that, accordingly, the purchase price of securities will increase the proportionate interest of, and be advantageous to, all remaining security holders. The normal course purchases will also afford an increased degree of liquidity in the market.
Further announcements will be made as and when appropriate.
About Industrialex Manufacturing Corp.
Headquartered in Arvada, Colorado, Industrialex Manufacturing Corp. operates plants in Arvada and Colorado Springs, Colorado. The Company provides industrial coating services to a broad range of manufacturers. The Company's services include, chemical adhesions, conformal coating, shielding, powder coating, liquid coating and screen-printing.
The Company's shares are traded under the name of Industrialex Manufacturing Corp. on the TSX-Venture Exchange under the symbol IXC.U.
On behalf of the Board of Industrialex Manufacturing Corp.
Ahmad Akrami, President & CEO
The statements made in this press release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from Industrialex's expectations and projections.
3rd quarter earnings were out on November 12. Looks like they just about broke even. In this ecomony that's not too bad.
Without the Colorado Springs facility they would have made money, although I think they'd still be paying rent on it so maybe not. Not sure I'd be buying here as it is a gamble but who knows.....next quarter may paint a better picture.
2nd quarter earnings are out. Swung to an $82,000 loss.
"The second quarter loss is mainly due to additional expenses associated with the acquisition of the customers and management of Compass Industrial Coatings Inc., in addition to the general slow down of customers orders during the quarter due to the general slowdown of the economy."
This economy may to bury companies like this unless it turns around.
---'When you control what will be seen, you will be seen for what you truly are'---
ibreken
Dividend should be deposited in accounts tomorrow, earnings should be released within the next two weeks I would hope. Hopefully a penny a share or better?
Company continues to pick away at buyback
Apr 01/08 Mar 28/08 Industrialex Manufacturing Corp. Direct Ownership Common Shares 38 - Redemption, retraction, cancellation, repurchase 17,500 $0.130 USD
Apr 01/08 Mar 17/08 Industrialex Manufacturing Corp. Direct Ownership Common Shares 38 - Redemption, retraction, cancellation, repurchase 15,000 $0.130 USD
Apr 01/08 Mar 12/08 Industrialex Manufacturing Corp. Direct Ownership Common Shares 38 - Redemption, retraction, cancellation, repurchase 12,000 $0.130 USD
Apr 01/08 Mar 10/08 Industrialex Manufacturing Corp. Direct Ownership Common Shares 38 - Redemption, retraction, cancellation, repurchase 500 $0.130 USD
Apr 01/08 Mar 06/08 Industrialex Manufacturing Corp. Direct Ownership Common Shares 38 - Redemption, retraction, cancellation, repurchase 2,500 $0.130 USD
They clearly did do some research on the stock and the statements made look pretty accurate so I wouldn't really say 'pumping'. I'd say the 'targets' are a little high though. Something would have to change pretty drastically to get this above a dollar. I could see 60 cents though if earnings hold steady. Shamefully the market doesn't agree : - (
That's good to hear about the dividend ib. Not very big but good of management to make the gesture. I emailed the company a while back and didn't get a response. That may be because I was berating them for never promoting or releasing any news. I gave them a good keyboard lashing lol.
Somebody PM'd me this about IXC.U on stockhouse
Smallcap company: INDUSTRIALEX MANUFACTURING ( IXC.U )
-Successful turnaround executed with all the right ingredients for large move upward.
-Recently announced dividend payment on April 11 2008 to all shareholders on record as of March 14 2008.
-Profitable.
-Company aggressively buying back shares on the open market.
-Insiders own 57% of outstanding shares according to last information circular. Percentage actually higher taking into account ongoing share buyback.
-No debt. Significant cash on balance sheet.
We were alerted to this stock when we learned they are paying their first dividend to shareholders in April. We investigated further as dividend payouts signify solid balance sheets and are almost unheard of with a TSX-Venture listed companies trading at pennies. The company has shown consistent growth in margins, profitability and earnings since consolidation. Much of their business is military based which is virtually recession proof. This is our first time recommending IXC.U
Our estimate of 6-8 cents FY2008 earnings justifies a target price of $ .90 - $1.20 per share in the next 12 months.
Low volume and a small float means when this one moves up it will be fast.
Does this seem reasonable to you or is somebody just pumping?
IXC.U to pay out dividend ! !
Industrialex Manufacturing Corp. Announces its First Ever Dividend Payout to its Shareholders - CCN Matthews
February 1, 2008 - 9:31 AM EST
ARVADA, COLORADO--(Marketwire - Feb. 1, 2008) - Industrialex Manufacturing Corp. (TSX VENTURE:IXC.U) today announced that its Board of Directors has approved a dividend payout equivalent to $0.003 per share. Dividends will be paid on April 11, 2008 to all shareholders of record as of March 14, 2008.The payouts will be facilitated through the Company's transfer agent, Computershare Investor Services, Inc. of Vancouver, B.C.
In making the announcement, Mr. Ahmad Akrami, the Company's Chairman and CEO stated: "At the January 29, 2008 meeting of the board, our Board of Directors carefully reviewed our operations, our factory, our financial results for 2007 and our opportunities for 2008, our prestigious customer base and our team's accomplishments and plans for the future and decided to reward the company's shareholders with its first ever dividend payout. On behalf of the Industrialex Manufacturing Corp. I am extremely proud to have the honor of making this historic announcement."
Further, the Company announced that since filing a Normal Course Issuer Bid in August of 2006 the Company has purchased 912,000 shares of its common stock.
Headquartered in Arvada, Colorado, Industrialex is a leading provider of industrial coating services to a broad range of manufacturers. The Company operates plants in Arvada and Colorado Springs, Colorado.
On behalf of the Board of Industrialex Manufacturing Corp.
Ahmad Akrami, Chairman & CEO
The statements made in this press release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from Industrialex's expectations and projections.
FOR FURTHER INFORMATION PLEASE CONTACT:
Industrialex Manufacturing Corp.
Paul Napoli
Corporate Controller
(303) 456-6847
Email: pnapoli@industrialex.com
Website: www.industrialex.com
Buy back and share cancellation going full bore....
Since Sept 21 466,000 shares repurchased and cancelled or about 2.5% of O/S.
Receives Approval To Buy Back Up To 797,765 Common Shares
ARVADA, COLORADO--(Marketwire - Sept. 4, 2007) - Industrialex Manufacturing Corp. (TSX VENTURE:IXC.U) -
The Company wishes to announce that it has obtained the approval of the TSX Venture Exchange to undertake a normal course issuer bid to purchase up to 797,765 of its 19,293,592 issued and outstanding common shares representing approximately 4.13% of the Company's issued and outstanding common shares. Purchases will be made on the open market through the facilities of the Exchange. All purchases will be made, on behalf of the Company, by Canaccord Capital Corporation. The price paid will be the prevailing market price of such common shares at the time of purchase. Any shares purchased pursuant to the bid will be cancelled and returned to treasury.
The bid will commence on September 7, 2007 and will terminate on September 6, 2008 or at such earlier time as at which the bid is completed. The Company reserves the right to terminate the bid earlier if it feels that it is appropriate to do so.
The Company believes that the current market price of its securities does not give full effect to their underlying value and that, accordingly, the purchase price of securities will increase the proportionate interest of, and be advantageous to, all remaining security holders. The normal course purchases will also afford an increased degree of liquidity in the market.
Further announcements will be made as and when appropriate.
Security designation: Common Shares
1116144 2007-09-21 2008-01-09 Direct Ownership :
00 - Opening Balance-Initial SEDI Report 6,000
1116172 2007-09-26 2008-01-09 Direct Ownership :
38 - Redemption, retraction, cancellation, repurchase +94,000 0.0650
1116173 2007-11-09 2008-01-09 Direct Ownership :
38 - Redemption, retraction, cancellation, repurchase +4,000 0.1250
1116175 2007-11-12 2008-01-09 Direct Ownership :
38 - Redemption, retraction, cancellation, repurchase +27,000 0.1250
1116178 2007-11-15 2008-01-09 Direct Ownership :
38 - Redemption, retraction, cancellation, repurchase +9,500 0.1250
1116179 2007-11-22 2008-01-09 Direct Ownership :
38 - Redemption, retraction, cancellation, repurchase +10,000 0.1250
1116192 2007-11-23 2008-01-09 Direct Ownership :
38 - Redemption, retraction, cancellation, repurchase +76,000 0.1250
1116195 2007-12-03 2008-01-09 Direct Ownership :
38 - Redemption, retraction, cancellation, repurchase +25,000 0.1850
1116196 2007-12-03 2008-01-09 Direct Ownership :
38 - Redemption, retraction, cancellation, repurchase +5,000 0.1800
1116197 2007-12-03 2008-01-09 Direct Ownership :
38 - Redemption, retraction, cancellation, repurchase +20,000 0.1600
1116199 2007-12-03 2008-01-09 Direct Ownership :
38 - Redemption, retraction, cancellation, repurchase +5,000 0.1700
1116202 2007-12-04 2008-01-09 Direct Ownership :
38 - Redemption, retraction, cancellation, repurchase +2,000 0.1600
1116204 2007-12-06 2008-01-09 Direct Ownership :
38 - Redemption, retraction, cancellation, repurchase +1,000 0.1600
1116205 2007-12-07 2008-01-09 Direct Ownership :
38 - Redemption, retraction, cancellation, repurchase +20,000 0.1600
1116207 2007-12-12 2008-01-09 Direct Ownership :
38 - Redemption, retraction, cancellation, repurchase +2,000 0.1600
1116208 2007-12-12 2008-01-09 Direct Ownership :
38 - Redemption, retraction, cancellation, repurchase +4,500 0.1250
1116210 2007-12-13 2008-01-09 Direct Ownership :
38 - Redemption, retraction, cancellation, repurchase +10,000 0.1700
1116212 2007-12-14 2008-01-09 Direct Ownership :
38 - Redemption, retraction, cancellation, repurchase +10,000 0.1600
1116213 2007-12-21 2008-01-09 Direct Ownership :
38 - Redemption, retraction, cancellation, repurchase +5,000 0.1500
1116214 2007-12-24 2008-01-09 Direct Ownership :
38 - Redemption, retraction, cancellation, repurchase +10,000 0.1400
1116215 2007-12-24 2008-01-09 Direct Ownership :
38 - Redemption, retraction, cancellation, repurchase +20,000 0.1300
1116217 2007-12-24 2008-01-09 Direct Ownership :
38 - Redemption, retraction, cancellation, repurchase +5,000 0.1500
1116218 2007-12-24 2008-01-09 Direct Ownership :
38 - Redemption, retraction, cancellation, repurchase +95,000 0.1250
Bid now moved up to 18.5 cents ask 19
Bid at 48%+ level
IXC.U Last 18.5 cents up 48% on the usual very low volume.
-current (100,000) .125 x .185 (8000)
Up another 25% today after gaining 25% yesterday, both days volume was extremely low. Worth noting though is the bid is at the close price, the ask is now at 17.5 cents.
IXC.U to da MOON !
Yes things are looking like they are coming together. The latest filings aren't actually on the SEDAR site yet (they usually take a day to update it) but they are out on Stockwatch. Honestly I'm not sure if you can buy in the ask side is thin. 4000 shares at 12 cents, i think 2000 at 18 cents and then it moves up to 36 cents. I expect it will just slowly move up as the ask side increases and I don't expect much selling now, with that last quarter it's trading at around 2.5x future earnings. Who knows, if you trade Canadian stocks it may be worth putting in a limit order at 10 cents or something, it might get filled. I would say downside is zero now and upside is at least a four bagger but as I have said before not a flipping stock, volume is painfully low, although that may change with the earnings (but I doubt too much)
Nice news today...I see that this stock even has filings on Sedar...
It's like a breath of fresh air!
Dont make me buy into this....;)
GREAT 3rd quarter earnings ! ! !
Revenue increase of 61 % year over year for the quarter, 31 % for the year. Earnings of one cent [actually a tiny fraction more than one cent] for the quarter, cash on hand increased by more than 1 cent per share for the quarter to about 2.5 cents per share.
It appears business is going to continue in the second plant they were going to be completing the consolidating into the new year as the orders from that customer continue to flow in.
Buyback of 100,000 shares took place during the quarter.
Cash on hand is now almost half a million dollars. With a little promotion this company would have no problem breaking 40 cents now.
NEWS -
Receives Approval To Buy Back Up To 797,765 Common Shares
ARVADA, COLORADO--(Marketwire - Sept. 4, 2007) - Industrialex Manufacturing Corp. (TSX VENTURE:IXC.U) -
The Company wishes to announce that it has obtained the approval of the TSX Venture Exchange to undertake a normal course issuer bid to purchase up to 797,765 of its 19,293,592 issued and outstanding common shares representing approximately 4.13% of the Company's issued and outstanding common shares. Purchases will be made on the open market through the facilities of the Exchange. All purchases will be made, on behalf of the Company, by Canaccord Capital Corporation. The price paid will be the prevailing market price of such common shares at the time of purchase. Any shares purchased pursuant to the bid will be cancelled and returned to treasury.
The bid will commence on September 7, 2007 and will terminate on September 6, 2008 or at such earlier time as at which the bid is completed. The Company reserves the right to terminate the bid earlier if it feels that it is appropriate to do so.
The Company believes that the current market price of its securities does not give full effect to their underlying value and that, accordingly, the purchase price of securities will increase the proportionate interest of, and be advantageous to, all remaining security holders. The normal course purchases will also afford an increased degree of liquidity in the market.
Further announcements will be made as and when appropriate.
About Industrialex Manufacturing Corp.
Headquartered in Arvada, Colorado, Industrialex Manufacturing Corp. operates plants in Arvada and Colorado Springs, Colorado. The Company provides industrial coating services to a broad range of manufacturers. The Company's services include, chemical adhesions, conformal coating, shielding, powder coating, liquid coating and screen-printing.
The Company's shares are traded under the name of Industrialex Manufacturing Corp. on the TSX-Venture Exchange under the symbol IXC.U.
On behalf of the Board of Industrialex Manufacturing Corp.
Ahmad Akrami, President & CEO
The statements made in this press release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from Industrialex's expectations and projections.
FOR FURTHER INFORMATION PLEASE CONTACT:
Industrialex Manufacturing Corp.
Paul Napoli
Corporate Controller
(303) 456-6847
Email: pnapoli@industrialex.com
Website: www.industrialex.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
2nd quarter earnings $ Revenue up 21%. Positive net earnings.
Everything looks pretty good. Revenue is up 21% year over year ($1,088,000 vs. 842,000) Earnings are about 1/6 th of a cent a share compared with a loss last year.
Earnings from 'continued operations' would have been about 1/2 a cent a share if not brought down by 'dicontinued operations' attributed to the closing (almost) and losses of the Colorado Springs facility. At that half a cent, if they can continue at this pace which I believe is very possible (I actually think that they can easily earn 1 cent a quarter) that would put the current share price at a 1 to 2.5X PE ratio.
It appears they received orders from a major customer/ military supplier that is being filled in July and August (third quarter)in the Colorado facility delaying it's shutdown. I'm assuming the company believes this will be financially advantageous otherwise they would fill the order in Arvada , although since it's only about an hour and a half away I'm not sure for the rationale behind this.
The release states
"Potential for continued orders from this customer extending past the August deliveries are strong but not certain. Based on this new activity and potential further orders, management will evaluate a new timeframe for the Colorado Springs operations on an ongoing basis."
At June 30, 2007, the company had cash of $228,000, total working capital of $409,000, a note payable and capital lease obligation totaling $70,000. And this is for a company with a market cap of less than $1 million dollars that has just turned profitable and can potentially make in my opinion easily $500,000 a year in profit once everything is consolidated. It seems like a no brainer.
Lack of news releases (the company basically doesn't release any news anymore other than their SEDAR filings) probably isn't helping the total lack of interest in this story, added to the fact that the market likes expansion not consolidation probably is the main reason the stock is trading where it is. In my opinion it should be trading at a minumum of 20 cents right now and once 3rd quarter results are released in November with another profit of half a cent to a full cent in profit hopefully the stock will more accurately reflect where it should be trading. I'm hoping the company will begin actually PRing its earnings once it becomes more apparent that the company can be quite profitable.
Is it an exciting story? No. A profitable company with the potential to earn half the market cap or more in one year once the consolidation is complete trading at a nickel? That's just wrong. Should be 20+ cents by the end of the year with any promotion.
Here is the link to see the full financials and MD&A
http://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00014598
haha sorry I'm going to hold off on 'getting the party started' until I see a few more joining the party. Painting the tape would be very cheap but kind of pointless, I was just joking with benz. I still believe if all goes fairly well and the company begins communicating a little more this is an easy triple at least by the end of the year. I see no reason why this can't be a 30 or 40 cent stock again with the right marketing and business decisions.
I have no idea if management is now just in hibernation mode or what. It would be nice if they would present a clear game plan and attempt to expand their current business to something with some more growth potential (they should be able to make money in the business they are in, but in my opinion, why not expand and take advantage of the public listing). Good to see a little more pressure on the bid though
A new bid showed up for 50,000 at 6 cents....maybe some time next month we will get some volume? Ibreken why don't you do us a favour and get this party started with that market order you are talking about....? I've seen more movement from a sloth. I like the potential here but the action leaves something to be desired.
Yes benz sometimes I can't keep up with all the interest in this story. It's mind blowing to say the least. Nobody's buying or selling. I thought about putting a market order today to more than double the share price and then I thought nahhh, it will come in time. Good luck on that 'buyout'. I hope you aren't too disappointed.
The volume here is incredible!! This could be the stock of the year.
Watching the LL2 action can make one dizzy!
Incredible! I should sell all my Google and Apple and plow it into this.
LMAO
Thanks I haven't been checking the site very often. Overall earnings were about what I expected. We should know within 2 quarters if they can make a decent profit with the Arvada facility. I wasn't that impressed that in the management MD&A it's just pretty much a cut and paste of the financials, management can't even be bothered giving a statement. I'll look into it in more detail when I have some more time. Let me know if you get a response to your email.
I emailed investor link on the company website. Haven't heard anything back yet though.
Earnings are out ib. They showed up on SEDAR yesterday. Looks like it was pretty much break even/slight loss and they are moving everything into one facility and are closing the non profitable one by second quarter.....assuming that means now. Don't know what to think.
I've held this a long time. Too long.
If nothing changes in the next quarter or two I'll be moving on. No news no updates no interest....no good for shareholders. I wonder if they have anything in the works. The listing alone has to be worth something. Merge with a company with some actual goals or whatever it takes...let's just end this miserable no volume bottom of the barrel share price. Just do something. This lame break even approach just isn't working anymore.
Last year full year earnings came out on April 26th. Not sure why they aren't out yet. I'm estimating a flat fourth quarter and then hopefully moving into a small profit for first quarter (released last year on May 23rd), and up from there.
I don't like it when a company pumps all the time, but these guys are turning into the exact opposite, never saying anything. It would be nice to get some sort of update letting us know what's going on. Quite the wide spread on the bid and ask. Nobody's buying, nobody's selling. Can't really blame them. The company doesn't exactly seem to be a 'shareholder' oriented enterprise. Hopefully they turn it around and make a profit and then start working on the share price.
Hi ibreken. I own this stock but haven't heard a peep out of them in quite some time. Are there any plans in the works? I haven't been impressed with the performance in all honesty....surprise surprise! Somebody needs to light a fire under this managements butt and get things moving. There is some potential here not that you would know it by looking at the stock price lol.
Thanks sometimes. I know you liked my after the fact editing last night, haha. Yes they have audited financials, they are fully reporting on the Vancouver exchange. They have had their share of foulups (trying to make a go of it with a plant in Canada), but I think they are getting on the right track now. I think the CEO has been buying lately but the buys have not showed up on SEDI as of yet. I wouldn't discourage anyone from taking a position, but it would be a 6 month minimum here, no opportunity to flip.
P.S. Do you ever sleep?
ibreken-Thanks for the offer... maybe latter.
But more appropriately, thanks for the thoughtful reply, I think you knew I was just pulling your chain with my post.
Your MB looked kinda sparse & I actually was feeling sorry for you that your effort was being unacknowledged.
heck, Industrialex seems like they may have potential....
Do they have audited financials filed yet??? That would be a nice PLUS for a change of pace (not knocking Industrialex - but some of the other companies that i have positions in)
Good luck here, ibreken! if I manage to chisel some profits out of my other investments, I might wager a few duckets on Industrialex!
Well sometimes, most of ihub members are in stocks for the ride up and don't want to be caught still in on the way down.
Industrialex is a small company with a market cap of just over a million dollars. They report audited numbers and have tangible assets. They only do coatings though, so not really in competition with Smith International.
The company just reported a loss of 1 cent a share and will hopefully be profitable within 6 months, although I would be the first to admit they may not be. I know consolidation is currently underway into the one profitable plant (which should increase profits dramatically) and Industrialex should be in line to make a profit of anywhere between 1 and 4 cents next year if all goes well. That puts it at about 20-60 cents a share with no growth multiple attached.
The CEO owns over half of the shares, so he has a REAL interest in the company succeeding. How many shares do the executives of the companies you invest in own? Nevermind, you don't even know how many shares there are let alone how many the executives are dumping into the market. I'll update the Ibox soon. Watch this one. You may be able to make some real money with a company that isn't just interested in making money by dumping shares into the market using outrageous claims.
Sometimes_right, if you want I can make you assistant moderator here, it will make you feel secure being involved with a fully reporting company...haha.
Smith International produces excellent tungsten-carbide wear products, mostly used in the oil & mining industries...
I worked for the company several years, that's one of the reasons I have firsthand knowledge about the mining & oil sectors.... as opposed to many people posting on Ihub & other stock MB... mostly they are just blowing it out their a$$...
Here's link to Smith International:
http://www.smith.com/
maybe Industrialex will emerge as a formidable competitor someday???
doesn't seem like much Ihub memebr interest in Industrialex though...
can't figure out why....
Welcome to Industrialex message board. I am ibreken. I am starting this board as there is not much of a following of this stock and depending on the upcoming financials it could explode. Volume is almost non existent at this time. It currently trades at 6.5 cents and has earned 2 cents in a quarter in the past. With any luck on November 30 or thereabouts they will report improved earnings (industry has been weak as of late and this company has had it's share of bumbles) but at this point anybodies guess is as good as mine. I will provide more information as it is available after the 30th.
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Company Website :
http://www.industrialex.com/
All financials and news releases :
http://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00014598
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